Amidst ‘Accelerating Demand Among Institutions,’ Fidelity Joins The Race to Launch A Bitcoin ETF


Fidelity has become the latest one to apply for a Bitcoin exchange-traded fund (ETF).

According to the preliminary filing with the US Securities and Exchange Commission (SEC), Fidelity’s Wise Origin Bitcoin Trust would be holding Bitcoin. Fidelity, in a statement, said,

“The digital assets ecosystem has grown significantly in recent years, creating an even more robust marketplace for investors and accelerating demand among institutions. An increasingly wide range of investors seeking access to bitcoin has underscored the need for a more diversified set of products offering exposure to digital assets.”

The race to launch a Bitcoin ETF continues to see more and more participants competing. Earlier this week, former Trump administration White House communications director Anthony Scaramucci jumped in with his SkyBridge Capital joining forces with First Trust Advisors.

VanEck, Kryptoin, Valkyrie, NYDIG, and Wisdom Tree have already filed their applications.

image1

Fidelity Service Company would be serving as an administrator while the asset manager’s crypto-focused Fidelity digital Assets will act as the custodian.

The shares of the ETF would be using exchanges like Bitstamp, Coinbase, Gemini, itBit, and Kraken, for the underlying prices.

“The Trust provides investors with the opportunity to access the market for bitcoin through a traditional brokerage account without the potential barriers to entry or risks involved with holding or transferring bitcoin directly, acquiring it from a bitcoin spot market, or mining it,” notes the filing.

This application comes a month after the first-ever Bitcoin ETF was launched in Canada.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide